Whole life insurance is permanent life insurance that provides a guaranteed death benefit, level premiums that are guaranteed for the life of the policy and guaranteed cash values that remain in place as long as you pay the scheduled premium. Permanent life insurance combines a death benefit
with a cash value that grows tax deferred over time.
You choose to participate
The Payroll Deduction Whole Life Insurance program is voluntary. It offers flexibility to build an insurance program that meets your needs and budget. Your spouse, children and grandchildren are also eligible for insurance coverage.
Your premiums are conveniently deducted from your paycheck
You pay your premiums through the convenience of payroll deduction, so there’s no more worrying about writing checks or mailing payments.
No medical exams are required
You can apply for coverage by completing a simplified application.
You own the policy
Our whole life insurance policy provides individual coverage, and you are the owner of your policy. Your policy is portable. If you leave your employer or retire, you may continue coverage by paying the scheduled premiums directly to the carrier at the same premium with no change in coverage.
Cost-effective life insurance protection
Consider the following nonsmoker rate examples on how much coverage you can purchase for a few dollars a week.
| Employee or Spouse | Age | Life Insurance | Premium |
| Pay to 100 | 35 | $21,259 | $5 |
| Paid up at 65 | 35 | $17,199 | $5 |
| Pay to 100 | 35 | $29,763 | $7 |
| Paid up at 65 | 35 | $24,072 | $7 |
Cover your children, stepchildren and legally adopted children, ages 15 days through 18 years, for an additional $1 per week with the Children’s Term Life Insurance Rider. Each child is insured with $10,000 of life insurance.
Conditional coverage the day you sign
Your coverage becomes effective on the date you sign the payroll deduction authorization and the application, as long as all applicants to be insured are acceptable under the carrier’s underwriting guidelines. Policy issuance may depend on the answers to the health questions in the application.
Give your family the added financial protection they may need in the event that something unexpected happens.
Guaranteed cash value
Cash value is the amount of money and interest accumulated in a whole life insurance policy. Whole life insurance provides guaranteed cash values. Those values are stated at the beginning of the policy, grow tax deferred and are not affected by market fluctuations. Cash values may not be
available in the first several policy years. The cash value is payable to the policyowner upon the policy’s surrender and will be reduced by any indebtedness.
You have options for the future
After the policy has cash value, you may choose to borrow from the cash value, you can elect reduced paid-up insurance which allows the cash value to pay the premiums for a period of time or elect extended term coverage and cease ongoing premium payments.
You can cover your entire family
Several options are available to help protect your family. You choose who to cover and how much coverage is necessary. You are not required to purchase a policy on yourself in order to cover your spouse or dependents.
Coverage for you and your spouse
You may apply for a Whole Life insurance policy on you and
your spouse. Issue age eligibility varies by product:
• Pay to 100 – ages 18 through 70
• Paid Up at 65 – ages 18 through 55
Coverage for children and grandchildren
We offer two ways to cover children. You may insure them under their own separate policy or a rider that is added to your policy or your spouse’s policy.
Individual life insurance
You may apply for a Whole Life policy for your children, stepchildren, legally adopted children and grandchildren, ages 15 days through 18 years.
You may also apply for Whole Life, Term or Term ROP for your children, stepchildren and legally adopted children ages 18-25 who are full-time students, unmarried and not in military service.
Children’s Term Life Insurance Rider
This rider is available to cover your children, stepchildren and legally adopted children when attached to either your policy or your spouse’s policy. One premium covers all children, each with a death benefit of $10,000. To apply for this rider, you or your spouse must be ages 18 through 60, and the children must be ages 15 days through 18 years. Insurance on each child continues to age 25, even if the child marries or enters the military service.
All covered children can purchase up to five times the amount of their rider coverage as they reach age 25, regardless of their health or occupation at the time they convert to their own policy.
You can customize your policy to meet your needs
Accidental Death Benefit Rider
This rider is available to you, your spouse, children and grandchildren ages 1 through 60. It provides an additional death benefit equal to the initial amount of insurance. This benefit is payable if the insured dies as a result of an accident before age 70 for Pay to 100 or before age 65 for Paid Up
at 65 policies.
Accelerated Benefit Rider
This rider is available to you, your spouse, children and grandchildren ages 15 days through age 70 at no additional charge. It allows the policyowner to request up to 50 percent of the policy’s face amount if the insured has been diagnosed by a physician with a terminal illness that is reasonably
expected to result in death within 24 months or has been confined continuously for 90 days in a nursing home and is reasonably expected to remain there for the duration of the insured’s life. One advanced payment is allowed per calendar year. The maximum lifetime benefit available is lesser of 50
percent of the death benefit or $250,000. The minimum benefit which can be advanced is $2,500.
Disability Waiver of Premium Rider
This rider is available to you, your spouse, children and grandchildren ages 18 through 60. After four consecutive months of total disability, it waives the entire policy premium in the event that the insured is totally disabled. Therefore, insurance coverage continues during a time when paying
premiums may be a hardship for you and your family. All premiums you paid from the first day of total disability are returned to you.
* Rider eligibility subject to issue age limitations of the base policy.
